US Treasury Rolls Out Draft Rule To Implement GENIUS Act Compliance Program

The US Treasury on Wednesday released a joint proposed rule from the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) that would put meat on the bones of the GENIUS Act, the federal law establishing a regulatory framework for stablecoins.  The draft rule translates the statute’s requirements into concrete anti‑money‑laundering […]